One more tax reform
Apr 30, 2019 | 5793 views | 0 0 comments | 386 386 recommendations | email to a friend | print
Dear Editor,

Regarding Victor Maltsev's April 16th letter "SALT-y talk," critics of the recent tax reforms that they only benefit the rich isn't true.

As a retiree living on a fixed income, I'm hardly a “one percenter,” but my 2018 federal income tax payment was almost one-third of what I paid during Obama's administration.

I'm in a much lower tax bracket, and I took the standard $12,000 deduction as a single payer. Couples filing a joint return can claim a $24,000 deduction, which should more than offset the state and local income tas deduction's absence.

But one injustice remains.

Candidate Donald Trump promised to eliminate the carried interest rate that allows hedge fund hustlers and private equity predators to pay roughly half the taxes they should.

"These guys are getting away with murder," he declared.

They still are, thanks to powerful lobbyists. They make their money the old fashioned stealing it


Richard Reif

Kew Gardens Hills
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